The Securities and Exchange Commission (SEC) has recently issued an advisory (as seen below) on YELLOWDOT TRANSPORT TERMINAL INC., warning the public of the individuals and groups involved in such activities. The advisory defines the activities behind the scheme, and advises the public to not to invest or stop investing in any investment scheme offered by the said company.
In support of this view, Coins.ph does not endorse or is affiliated in any way with such activities or products. Moreover, we have a zero tolerance policy on fraudulent activities and potentially scamming practices. In a separate article, we have enumerated tips on how you can avoid investment schemes and other online scams. We urge our customers to be extra diligent with their funds and to act within our User Agreement.
The Commission has received information that individuals or group of persons representing entities named YELLOWDOT TRANSPORT TERMINAL INC. with principal address located at Unit 208 Guerdon Commercial Center, Rainbow St. corner Katipunan St., SSS Village Concepcion 2, Marikina City, are enticing the public to invest their money in the said entity with the promise of monetary rewards or profits.
Based on reports, YELLOWDOT TRANSPORT TERMINAL INC. is engaged in fleet management business with a concept of “You Avail, We Manage, You Earn”. The company offers investment to the public with initial payment of Two Hundred Fifty Thousand Pesos (Php250,000.00) and monthly amortization of Thirty Thousand Pesos (Php30,000.00) to acquire a public utility vehicle known as “millennial jeepney”.
Further, part of the enticement of the subject entity in its investment taking activity is a promise of unusually high profits or returns amounting to Fifty-five Thousand Pesos (Php55,000.00) to Eighty-five Thousand Pesos (Php85,000.00) per month. This was confirmed by the Land Transportation Franchising and Regulatory Board (LTFRB) in its Notice to the Public dated 27 March 2019.
The public is hereby informed that the subject entity is registered with the Commission as a corporation, however, it is NOT authorized to solicit investments from the public, not having secured prior registration and/or license to sell securities or solicit investments as prescribed under Section 8 of the Securities Regulation Code (SRC).
Those who act as salesmen, brokers, dealers or agents of YELLOWDOT TRANSPORT TERMINAL INC. in selling or convincing people to invest in the investment scheme being offered by the said entities including soliciting investments or recruiting investors through the internet may be held criminally liable under Section 28 of the SRC and penalized with a maximum fine of Five Million Pesos (Php5,000,000.00) or imprisonment of Twenty-One (21) years or both pursuant to Section 73 of the SRC (SEC vs. Oudine Santos, G.R. No. 195542, 19 March 2014).
In view thereof, the public is hereby advised to STOP INVESTING in the investment scheme being offered by the said entity.
Furthermore, the names of all those involved will be reported to the Bureau of Internal Revenue (BIR) so that the appropriate penalties and/or taxes be correspondingly assessed.
Should you have any information regarding the operation of the subject entity, please call the Enforcement and Investor Protection Department at telephone numbers 818-6047.
For the guidance of the public.